tuskacz (OP)
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February 17, 2018, 05:47:28 PM |
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And it will remain so for a long time.
No government, no parties can effectively ban it and put their hand on it. They would have to ban internet first. Not likely.
That would be the end of free world we know.
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"There should not be any signed int. If you've found a signed int
somewhere, please tell me (within the next 25 years please) and I'll
change it to unsigned int." -- Satoshi
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steadyrice
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February 17, 2018, 05:51:29 PM |
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They don't need to ban it directly to outlaw it. What if fiat money made off of selling cryptocurrencies were declared illegal? Even if you had billions of bitcoins, they would be worthless because you wouldn't be able to cash out legally.
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jimbo2000
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February 17, 2018, 05:53:41 PM |
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Bitcoin is not free from the influence of governments. They cannot 'kill' bitcoin but if they really wanted to then they could do some serious damage to bitcoin and effectively stop its progress forever.
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███████████████████████ ▀▄ Platio ▄▀ ███████████████████████
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tuskacz (OP)
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February 17, 2018, 06:09:57 PM |
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That is why we must make bitcoin independent from tracking
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ManaMan
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February 17, 2018, 06:13:29 PM |
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Nobody can crack it, this is true. However many people are simply not educated well enough and do not understand the risks with their private keys. As a result of this we see that people lose their private keys or they get compromised, they don't care much if they leave coins on exchanges etc. I just want to point out that there is a big flaw in knowledge with some people and this could turn out to be a bad thing when they lose their money. That is why we must make bitcoin independent from tracking
Bitcoin was made to be open and transparent, if you are looking for more privacy a like crypto, there are other options out there. |
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nightmanisrightman
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Global Risk Exchange - gref.io
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February 17, 2018, 06:25:13 PM |
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They don't need to ban it directly to outlaw it. What if fiat money made off of selling cryptocurrencies were declared illegal? Even if you had billions of bitcoins, they would be worthless because you wouldn't be able to cash out legally.
But that is what people are failing to understand I feel like. You don't need to cash out once you have all the Bitcoin because you can spend that as currency. Everyday it becomes more spendable yet you want to cash out to the ever weakening purchasing power fiat currency? Yeah right, I will stick with my Bitcoins for the rest of my life, you can do whatever you like  . |
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Bonsaiav
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February 17, 2018, 07:04:52 PM |
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Obviously, isn't ?..., the strength of bitcoin lies in its users yes it's us and it is absolute, they or anyone can't possibly stop it as long as we are still there.
Only one can stop it, with 'The Unity Of Government' across the country and all doing 'decisive action' together.
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integrap
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February 17, 2018, 07:22:24 PM |
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It is up to people’s reaction to cryptocurrencies. If people keep using bitcoin and altcoins, they will be stronger. Governments have to accept them then.
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aso118
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★Nitrogensports.eu★
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February 17, 2018, 07:26:43 PM |
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And it will remain so for a long time.
No government, no parties can effectively ban it and put their hand on it. They would have to ban internet first. Not likely.
That would be the end of free world we know.
They do not have to ban the internet. There are a lot of people who would prefer to remain as law-abiding citizens, irrespective of how absurd the laws are. If the government bans Bitcoin, a lot of people would blindly follow the law. That would relegate Bitcoin to a niche currency, primarily used by criminals and money launderers. |
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ashlyvash00
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February 17, 2018, 07:27:04 PM |
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And it will remain so for a long time.
No government, no parties can effectively ban it and put their hand on it. They would have to ban internet first. Not likely.
That would be the end of free world we know.
Yeah bitcoin will not be controled by anyone government assets or other group. Ecen a rich people cant do that. Thats why many people are trust in bitcoin. Because there money will safe. Because there are no corruption in bitcoin. Unless if therr will be a inside job curruption. |
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richardsNY
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February 17, 2018, 07:28:50 PM |
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Bitcoin is not free from the influence of governments. They cannot 'kill' bitcoin but if they really wanted to then they could do some serious damage to bitcoin and effectively stop its progress forever.
It's too late for that. At this point, with so much global involvement, governments (the most civilized ones) can't just prevent people from using something. It would yet again be a sign of suppression from the government of their own people, and they know that. Another thing they know, is the fact that regardless of the actions they come up with, it won't have any actual impact on Bitcoin at all. Bitcoin IS everything the government and this banking system can't provide to people. It's not for nothing that Bitcoin popped up at all -- the change to do something about the dominance of corporations when it comes to our payment traffic, is absolutely brilliant. People don't realize it, but ALL our payment traffic happens through centralized ecosystems controlled by corporations, and Bitcoin breaks through this system ending their dominance. |
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dado7
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February 17, 2018, 07:33:22 PM |
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Exactly. They cannot crack it. They cannot destroy all the computers in the world and hence crash the network. The only thing they can do is fight through oppression (bans, regulations (in a bad way, FUD), propose their own solution or the one they could control (Ripple?), or try to adapt and adopt (by taking their usual share, of course.....). Politicians usually don't like changes because keeping the status quo is good for them, but when there is a critical mass they cannot stop, then usually they adapt fast and note where the opportunities for them lay.
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drukoz2
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February 17, 2018, 07:34:02 PM |
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And it will remain so for a long time.
No government, no parties can effectively ban it and put their hand on it. They would have to ban internet first. Not likely.
That would be the end of free world we know.
I agree, but also the strength of bitcoin in the great prospects of technology and different ways of development. Decentralization and freedom of speech in everything. |
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jak3
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February 17, 2018, 07:37:41 PM |
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Hell yeah, that's true that nobody can do anything to Bitcoin system. Satoshi has made the system so effective that even himself cannot stop this network so no government or banks can do anything to it. But still, everyone should be aware because there are some spoofing techniques by which someone can monitor your device and can get access to your wallet and other personal files it's just like spying on someone's another device.
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squallw
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February 17, 2018, 07:40:25 PM |
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Yeah but for me is the beginning of free world.
The government can't track, ban or cant dictate your own rules.
Thi is the power of descentralized system, but Bitcoin must improve some things like fee, confirmations, anonymity.
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CryptoStoreAL
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February 17, 2018, 07:41:19 PM |
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Maybe
But you can do a lot of harm and without hacking
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Georgi99
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February 17, 2018, 08:04:43 PM |
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And it will remain so for a long time.
No government, no parties can effectively ban it and put their hand on it. They would have to ban internet first. Not likely.
That would be the end of free world we know.
Bitcoin is a decentralized cryptocurrency that can not be banned by someone and there is no influence on it from outside, than it is good. I believe that this model will change the world and the view of money in the other direction. I fully support this project and am confident that bitcoin will achieve even greater success. It is very good that bitcoin is not controlled by any state and is a decentralized coin. |
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onnz423
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February 17, 2018, 08:35:42 PM |
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Bitcoin will not be banned, any country doing so would be essentially banning freedom of choice, I doubt that would sit well with the general public. Using SHA-256 encryption means that bitcoin is extremely resistant to brute force style attacks, so it is almost computationally impossible to hack, certainly nowhere close with todays most powerful computers, or those producible using current and prototype technology. Bitcoin is here to stay.
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Shrinath
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February 17, 2018, 08:46:19 PM |
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The concept of recording a transaction in the blockchain technology is an extremely secure digital ledger to investors in the world of Bitcoin. No matter what the experts in centralized currencies dictate, there is no solid evidence against cracking the protective elliptic curve signature in Bitcoins. Also, the use of Block hashing algorithm has been the best technique and the most secure transaction recording method. Bitcoin mining uses the hashcash proof of work function; the hash cash algorithm requires the following parameters: a service string, a nonce, and a counter. In bitcoin the service string is encoded in the block header data structure, and includes a version field, the hash of the previous block, the root hash of the merkle tree of all transactions in the block, the current time, and the difficulty. Bitcoin stores the nonce in the extra Nonce field which is part of the coinbase transaction, which is stored as the left most leaf node in the merkle tree (the coinbase is the special first transaction in the block). The counter parameter is small at 32-bits so each time it wraps the extra Nonce field must be incremented (or otherwise changed) to avoid repeating work. The basics of the hash cash algorithm are quite easy to understand and it is described in more detail here. When mining bitcoin, the hash cash algorithm repeatedly hashes the block header while incrementing the counter & extra Nonce fields. Incrementing the extra Nonce field entails re-computing the merkle tree, as the coinbase transaction is the left most leaf node. The block is also occasionally updated as you are working on it.
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Glaseseye
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February 17, 2018, 09:18:54 PM |
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They will never solve it. Because they also can not destroy all the computers in the world in an instant because it can damage all existing networks. The only thing they can do is fight through prohibitions and regulations to propose their own solutions Or they will try to adjust and slowly assume it exists in various ways. In some countries the state politicians do not like the change of a rule of law because they will keep the status quo good for them too, but if there is a mass in the critical they will not be able to stop, then they will try to adapt very quickly to understand the situation and noticing where there is an opportunity for them.
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